IMPORTANT NOTE: The fee estimates listed below assume that your family circumstances and wishes are very typical and straightforward. Unusual, detailed, or complex requests will increase the cost of your plan. The following are estimates only. After an initial meeting of less than an hour for which there is no charge, we can tell you what our recommendations are and what we would charge you to proceed.
Contact Arthur Geffen: email@example.com
Simple wills for married couple- $1250 (total cost for both spouses)
Every family needs a will. You should appoint guardians for your children, and may want to create a simple trust to hold your estate\’s assets until your children are old enough to handle money on their own.
Simple will for single person — $700
If you have kids, a will is essential. But even if you have no children, you may need a will to name the beneficiaries of your property. Furthermore, having a properly-drafted will can greatly simplify the administration of your estate.
Wills with bypass trust provisions — $1,600 (total cost for both spouses)
Once your estate grows to $5 million (including your pension and the proceeds of life insurance), you may want to create a “bypass trust” to minimize the estate taxes due when you and your spouse die.
Simple living trust with pourover wills — $3,500 + additional fees per asset
Living trust with bypass trust provisions and pourover wills — $5,500 + fees per asset
Although probate is simpler and less expensive in Texas than in other states, you may still wish to minimize the trouble and cost for your family after your death. A living trust can also help protect your privacy (by avoiding a public court hearing), provide for the management of your assets if you become disabled, and reduce the likelihood that your estate plan will be challenged by potential heirs. A living trust may be particularly important if you have property in another state. (Please note that the cost of creating a living trust can vary greatly depending on the number and type of assets that must be transferred to the trust.)
Life insurance trust — $4,750
Although life insurance is generally exempt from income tax, it is still subject to estate tax. A life insurance trust can avoid both taxes, generating potentially enormous savings.
Qualified Personal Residence Trust — $4,500
Save estate taxes on what may be your largest asset: your home.
More complex plans
The list above includes only a few of the possible estate planning techniques. I would be happy to explain my fees for other plans, including family limited partnerships, charitable split-interest trusts, grantor retained interest trusts, and other arrangements.
Please send email or call if you would like more information.